Jeff Bezos, founder of Amazon, announced the first recipient of his $ 10 billion Fund to Climate.
And unlike other tech giants with pledges to climate change, Bezos is focused on funding advocacy groups.
Bezos has named 16 environmental organizations via Instagram that will receive the first portion of his Climate Action Fund.
Collectively, the organizations get $ 791 million from the richest man on Earth, although Bezos has not specified how much will go to each group.
“I’ve spent the past months learning from a group of people who have made their lives an important business to combat climate change and its impact on societies around the world, and it has inspired me what they do, and I’m excited to help them expand,” Bezos said.
The Amazon CEO announced the creation of a $ 10 billion Bezos Earth Fund in February.
His climate fund equates to more than 7 percent of his net worth, which is also 10 times what charities provided globally in 2018 for efforts to slow climate change.
Bezos has chosen to support a handful of old organizations with an established history of defending the planet, and his choice indicates support for major environmental groups mobilizing for new policies and research on climate change.
His selection marked a departure somewhat from the contributions that Amazon and other giants have recently made to climate technology startups.
Amazon and Microsoft, unlike Bezos, have pledged to use the funds to develop new technologies to reduce greenhouse gas emissions.
And Amazon announced in September that the bulk of the first round of financing from its $ 2 billion climate fund is earmarked for getting more electric cars on the road and preventing carbon dioxide emissions.
Microsoft said in January that it would spend a billion dollars over four years on technologies that remove carbon dioxide from the atmosphere.
Bezos has so far avoided major groups that have criticized him and Amazon, such as the Sunrise Movement, which has not necessarily ruled out accepting funding from Bezos to promote its campaigns.
“We want to be reminded that Bezos made more than $ 48 billion during the pandemic, while more than 40 million Americans have applied for unemployment,” the Sunrise Movement said in September.